📅 Does Changing Jobs Affect Car Loan Approval?
Yes! Lenders prefer applicants with stable employment because it shows consistent income and ability to make repayments.
However, getting a car loan after recently changing jobs is still possible if you meet certain criteria.
🔍 How Long Do You Need to Be Employed to Get a Car Loan?
Lenders have different rules about how long you need to be in your job before applying.
| Time in Current Job | Approval Chances | Lender’s View |
|---|---|---|
| ✅ 12+ months | Very High | Considered stable—most lenders approve. |
| ⚠️ 6-12 months | Possible | Some lenders may approve, depending on other factors. |
| ❌ Less than 3 months | Low | High risk—most lenders will decline. |
| 🚀 New Job But Same Industry (3+ months) | Moderate | More likely to be approved if staying in the same field. |
If you’ve just started a new job, waiting at least 3-6 months before applying can improve your approval chances.
✅ How to Get a Car Loan If You’ve Recently Changed Jobs
If you just started a new job, follow these steps to increase approval chances:
1️⃣ Show Proof of Stable Income – Provide payslips and bank statements from your new job.
2️⃣ Stay in the Same Industry – Lenders prefer applicants who move within the same field.
3️⃣ Have a Strong Credit Score – A good credit score offsets job instability.
4️⃣ Consider a Secured Loan – Using the car as collateral reduces lender risk.
5️⃣ Use a Finance Broker – A broker can find lenders that accept new job applicants.
If you’ve changed jobs recently but have a strong financial profile, some lenders will still approve your car loan.
🚨 Can You Get a Car Loan While on Probation?
Yes, but it’s harder. Many lenders prefer applicants who have completed their probation period, which is typically 3-6 months.
If you’re on probation, you can improve your chances by:
✅ Applying after 3+ months of consistent income.
✅ Providing a contract showing long-term employment.
✅ Using a guarantor (if available).
If banks decline your application, a finance broker can find alternative lenders who approve new employees.
🚀 Why a Finance Broker Can Help If You’ve Changed Jobs
If banks reject your car loan due to recent job changes, a finance broker can help by:
✅ Finding lenders that accept applicants with new jobs.
✅ Matching you with a car loan that fits your employment history.
✅ Helping you avoid unnecessary credit checks that lower your score.
If you’ve recently changed jobs but need a car, don’t risk rejection! 🚗💨 A finance broker can help you get approved with the right lender.
If you’ve just started a new job but need a car loan, you still have options! A finance broker can match you with lenders who approve new employees.
DISCLAIMER
The information provided on this website is general in nature only and has been prepared without considering your financial needs, circumstances and objectives and should NOT be construed as financial, taxation or legal advice. For more information, get in touch with our experienced partner brokers today.
